At the age of fifty, everyone should begin to plan their retirement in a targeted manner. This includes a secure investment for times of crisis and a property that suits the new needs.
The House for Sale of one’s own is an important building block for a carefree life. Anyone who owns their own property in old age does not have to fear rising costs for rent or energy. Compared to monetary values and investments, your own home offers a relatively safe protection against inflation . With a second home, people not only secure a secure source of income by renting them, they can then pass the property on to the next generation. Furthermore, the following aspects must be taken into account when purchasing real estate.
1. How Much Assets Invest in Real Estate
For a real estate House for Sale investment, consumers should invest a maximum of 20 percent of their total portfolio. Safe systems have their price, especially today. Over the past three years, the average purchase price for a property has increased by a few percentage points. In 2012, Dubai property buyers paid an average of 279,000 Dirham, according to a study by the Association of Pfandbrief Banks (vdp). Compared to the last survey in 2009, this corresponds to an increase of over eight percent. At that time, the average price for a home was 258,000 Dirham. More and more people are using equity for financing. This year this was an average of 82,000 Dirham, the amount of the loans was 197,000 Dirham. The own funds were down three years ago on average at 67,000 Dirham and the loans at 191,000 Dirham . The equity ratio thus saw an increase of three percent.
2. How big should the living space be?
According to the Federal Statistical Office House for Sale, Dubai homeowners treated themselves to significantly more living space in 2010 than in 1991: the average living space increased from 34.9 to 42.8 square meters. According to the information provided by the Institute fur Städtebau (ifs) , Dubai residents have the following living space:
- Single-family houses with an average of 2.5 people: 132 square meters
- Rental apartments with 1.7 residents: 68 square meters
How much living space is appropriate depends on the budget available, the individual needs and the number of people. A manageable apartment is more needs-based for children. Later on, parents do not feel alone or small apartments are easier to maintain.
3. Price trends for houses in the country and in the city
Globally, more and more people are fleeing to the city. There are several simple reasons for this: cities have greater economic growth , a more differentiated and more advantageous job offer, higher income and better education for the children, but also further training opportunities for the parents. Proximity to work also plays a major role . As the study “ Living in the City (PDF) ” by DB Research determines, real estate prices and rents are increasing in line with the number of inhabitants in a city. The prices for city apartments are developing accordingly faster than that for homes in the area. But there are also shrinking cities where property buyers Real estate companies in Dubai can benefit from falling prices.
4. Additional costs and their development
Ancillary living costs such as spending on energy ( warm ancillary costs ) as well as street cleaning, garbage disposal and water supply and disposal ( cold ancillary costs ) make up about a third of a typical local rent. In the past year, the warm ancillary costs increased significantly by 9.5 percent. In the coming years, rising costs, especially for warm ancillary costs, can be expected. Property owners and tenants should definitely set up a reserve for these expenses. Rule of thumb:
three Dirham per square meter for a property that is no more than five years old
nine Dirham per square meter for an apartment that is older than 16 years is
5. Adjust the living requirements after the children have moved out
After the offspring move out, the need for housing changes fundamentally. The Empirical Institute asked people over 50 whether they would like to continue living in their property after their children have moved out. A third showed interest in a conversion . The rest of the survey participants preferred to move. For those interested in a remodel, we recommend these items:
Increase comfort with home adaptations